Airbnb converts your currency
When the currency you’re paying with is different from the default currency of the country where the listing is located, Airbnb converts your payment automatically.
How does this work?
Airbnb uses data from one or more third-parties to get the base exchange rate, for example OANDA. The rates are regularly updated but are unlikely to be identical to the real time market.
Unfortunately, if you're paying in a currency that's different from the default currency of the country where the property is situated, Airbnb will charge a conversion fee on top of your total cost.
See the snippet from Airbnb's help page:
They charge 3%
As you can see, their fee is 3%.
we also charge a 3% conversion fee on your total cost
As @DesireeRatcliffe-Lattimore points out in the comments, that's
- 3% - 5% for the host
- 6% - 12 % for the guest
- and now 3% for the currency
Some where between 12% & 20% all plus VAT at 20% = 13.6% to 24%!
I'd love to hear your thoughts.